U’khand tourism loss Rs 12,000 cr: Survey

The devastation caused by torrential rains that lashed Uttarakhand earlier this month is expected to cause a loss of Rs 12,000 crore to the state’s tourism industry in the current fiscal, says a PHDCCI survey.

“Uttarakhand was expected to generate Rs 25,000 crore from tourism in 2013-14. Although Rs 5,000-6,000 crore have been generated from the first three months alone, the state is expected to realise only Rs 5,000-6,000 in the coming months as major tourism destinations have been washed away by recent floods,” SP Sharma, Chief Economist at the PHD Chamber said quoting the survey.

Tourism sector contributes 25 to 30% of the state GDP, and therefore the state exchequer is likely to take a major hit, Sharma added.

Full report here Business Standard


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